Cabot Corporation Stock Forecast
Green day on Thursday for Cabot Corporation stock after gaining 2.46%
(Updated on May 02, 2024)
The Cabot Corporation stock price gained 2.46% on the last trading day (Thursday, 2nd May 2024), rising from $91.96 to $94.22. During the last trading day the stock fluctuated 2.52% from a day low at $91.93 to a day high of $94.25. The price has risen in 7 of the last 10 days and is up by 3.89% over the past 2 weeks. Volume fell on the last day by -42 thousand shares and in total, 260 thousand shares were bought and sold for approximately $24.51 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 19.92% during the next 3 months and, with a 90% probability hold a price between $105.83 and $123.53 at the end of this 3-month period.
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CBT Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -4.09%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The Cabot Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $92.98 and $92.14. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. The stock had a Golden Star Signal on Monday, August 28, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Monday, August 28, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Cabot Corporation stock
On the downside, the stock finds support just below today's level from accumulated volume at $88.02 and $79.84. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Cabot Corporation finds support just below today's level at $88.02. If this is broken, then the next support from accumulated volume will be at $79.84 and $76.73.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $2.32 between high and low, or 2.52%. For the last week the stock has had daily average volatility of 1.96%.
Our recommended stop-loss: $90.77 (-3.67%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 17 days ago.)
Trading Expectations (CBT) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Cabot Corporation to open at $93.47, and during the day (based on 14 day Average True Range), to move between $92.29 and $96.15, which gives a possible trading interval of +/-$1.93 (+/-2.04%) up or down from last closing price. If Cabot Corporation takes out the full calculated possible swing range there will be an estimated 4.09% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $95.40 (1.25%) than the support at $88.02 (6.58%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Earnings coming up
Cabot Corporation will release earnings AMC on Monday, May 06, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.66. We will update the financials statements for Cabot Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.03% in the first trading day after earnings release.
Is Cabot Corporation stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Cabot Corporation stock to perform well in the short-term.
Current score: 4.886 Buy Candidate Unchanged
Predicted Opening Price for Cabot Corporation of Friday, May 3, 2024
Fair opening price May 3, 2024 | Current price |
---|---|
$93.47 ( 0.80%) | $94.22 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CBT
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 95.78 | 1.66 % | |
R2 | 94.90 | 0.717 % | ||
R1 | 94.35 | 0.137 % | ||
Current price: | 94.22 | |||
Support | S1 | 92.58 | -1.74 % | |
S2 | 92.03 | -2.32 % | ||
S3 | 91.15 | -3.26 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 98.24 | 4.27 % | |
R2 | 96.60 | 2.53 % | ||
R1 | 95.40 | 1.25 % | ||
Current price | 94.22 | |||
Support | S1 | 88.02 | -6.58% | |
S2 | 79.84 | -15.26% | ||
S3 | 76.73 | -18.56% |
CBT Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jan 12, 2024 | Feb 22, 2024 | Mar 08, 2024 | $0.400 | 0.459% |
2 | Nov 10, 2023 | Nov 22, 2023 | Dec 08, 2023 | $0.400 | 0.514% |
3 | Jul 14, 2023 | Aug 24, 2023 | Sep 08, 2023 | $0.400 | 0.570% |
4 | May 05, 2023 | May 25, 2023 | Jun 09, 2023 | $0.400 | 0.545% |
5 | Jan 13, 2023 | Feb 23, 2023 | Mar 10, 2023 | $0.370 | 0.498% |
FAQ
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